The Michelin group is doing well, which in 2011 scored a 39% increase in net income compared to the previous year to 1,46 billion euros, with revenue up 15% to 20,7 billion at constant exchange rates.
For the French tire manufacturer activities in Europe and the USA in particular went very well (respectively +35% and +56% sales). Thanks to the good performance, obtained despite an impact of 1,8 billion due to the increase in raw material prices, Michelin intends to increase the dividend by 18% to 2,1 euros per share.
The transalpine giant expects to grow again this year and confirmed its intention to increase turnover by 25% within 4 years. Michel Rollier, president of Michelin since May 2006, will present his resignation at the shareholders' meeting on May 11th. He will be replaced by Jean-Dominique Senard. On the Paris Stock Exchange, Michelin shares soared over +1,4% in the morning.
